The Press and Journal (Inverness, Highlands, and Islands)
Port boss calls for less oil and gas ‘negativity’
Peterhead Port Authority’s new boss has championed its credentials at an event in the Scottish Parliament.
Chief executive Graeme Reid warned more than 50 guests, including MSPs and other key people, that “government negativity” on the oil and gas sector is counter-productive.
Mr Reid has been at the port’s helm since March.
He was previously a marine consultant with the International Maritime Contractors Association.
Speaking in Holyrood’s Fleming Room, he said the oil and gas industry’s best known attributes were all critical to a successful energy transition.
Oil and gas remains “a vital part” of the port’s overall business, Mr Reid said.
He added: “However, there is so much talk of not supporting oil and gas in our country, and not giving it a future, which seems counter-productive.
“The oil and gas industry’s knowledge, capital, skills base and entrepreneurial ethos will be a major driving force in a successful energy transition.
“Taxing them out of the market does not seem a viable long-term strategy.”
The so-called “just” transition is a fallacy, he said.
Peterhead Port’s CEO explained: “We have seen a steady decline in oil and gas business over recent years and nothing coming to replace the decline.
“Less than 1% of our revenue came from renewable activity last year, for example.”
Mr Reid welcomed plans for a new investment zone in the north-east. Jointly announced by the UK and Scottish governments late last year, the zone is expected to support the development and growth of clusters to boost innovation, attract investment and strengthen the private sector.
Peterhead has been mooted as a possible location for a designated site for tax breaks.
On the Blue Toon’s wider economic prospects, he said: “We need continuity of policy, tax and strong incentives to drive inward investment, both in the port network and wider energy community.
“Therefore, can I ask that we start talking up our prospects in Scotland – specifically the north-east – and working cohesively to attract that new investment, creating longterm prosperity and economic benefit.”
Mr Reid also told guests Peterhead is in a geographic “sweet spot” to support opportunities emerging from the energy transition.
The port’s credentials include its role as a partner in the Acorn Project, one of the UK’s four carbon capture and storage schemes, now under development at nearby St Fergus.